(One more symbol: BOM:532667)
From the Wall Street Journal:
After harnessing the breezes to build a $7 billion family fortune, Indian windmill magnate Tulsi Tanti is encountering heavy turbulence.
A bit more than a decade ago, Mr. Tanti sold his family's struggling yarn-making business and scraped together about a half-million dollars to start a new company. Defying industry incumbents who dismissed him as a dreamer, he started building wind-powered turbines.
With lobbying, heavy borrowing and good timing, he turned Suzlon Energy Ltd. into the world's fifth-largest windmill maker. Suzlon does roughly $1.8 billion in sales a year and has captured 8% of the U.S. market. Mr. Tanti ranks among the world's richest green-power moguls....MORE
HT: Environmental Capital who wrote:
A Fresh Breeze from India: Suzlon’s Big Challenge
Our Environmental Capital colleague Tom Wright profiles the rise—and current stumbles—of Suzlon, the big Indian wind-turbine manufacturer. Suzlon, once a yarn maker, got into wind to run its factories in power-starved India. Then it started building its own turbines; a decade later, Suzlon is the fifth-biggest wind turbine maker in the $36 billion global market. It plans to double capacity again by 2010....MORE
Here's the Chinese orders that EC mentions, from The Hindu:
Suzlon Energy bags orders for wind farm projects in China
Suzlon & Vestas in fray for INR 600 crore NTPC project
It is reported that wind power companies such as Suzlon Energy Limited and Vestas RRB India Limited are competing for the INR 600 crore wind power project of National Thermal Power Corporation Limited....